The Tax Cuts and Jobs Act is approaching its expiration date. If policymakers don’t act to extend the law by the end of 2025, Americans and small businesses will experience a tax hike.
When Donald Trump passed his Tax Cuts and Jobs Act package in 2017—one of the biggest domestic policy wins of his first term—many of the resulting tax code changes came with a strict expiration date: December 31, 2025. Now, as Trump prepares to enter his second term in office...
The future of business taxation is the subject of much speculation as 2025 approaches. Significant portions of the Tax Cuts and Jobs Act (TCJA) are set to expire at the end of that year. In addition, the Republican sweep of Congressional majorities and the White House in...
The expiration isn’t a surprise: It was written into Trump’s signature tax legislation from his first term, the Tax Cuts and Jobs Act (TCJA), signed into law in 2017. The TCJA’s provisions included a permanent lower corporate tax rate, as well as temporary lower income tax rates ...
Created as part of the 2017 Tax Cuts and Jobs Act (TCJA), the 20% Small Business Tax Deduction allows small business owners to deduct up to 20 percent of their business income, bringing their tax rates closer to their big business counterparts and allows them to grow their businesses, hire...
As you gear up for back-to-school shopping, remember these tips to maximize your savings and make the most of your budget. Read More admin Jul 25, 2024 Good for Those Working From Home in 2025 With the anticipation of the expiration of the Tax Cuts and Jobs Act (TCJA), an importan...
With Republicans appearing to have secured a sweep of the White House and both chambers of Congress, the most immediate question for many financial advisors and their clients is what impact the election results will have on the scheduled expiration of the Tax Cuts & Jobs Act (TCJA) at the en...
The expiration of key provisions of the Tax Cuts and Jobs Act will have implications beyond federal tax policy, particularly on the debate around the cap on the itemized deduction for state and local taxes. Arguments for letting the SALT cap expire emphasize its unfairness to some taxpay...
We're approaching the fifth anniversary of the passage of the Tax Cuts and Jobs Act. So we've been talking about global intangible low-taxed income, foreign-derived intangible income, and the state and local tax cap for half a decade. To mark the occasion, we're spending three episodes ...
The Tax Cuts and Jobs Act (TCJA) doubled the exemption amount to $11.18 million in 2018, indexed to inflation. However, that provision is set to expire as of Jan. 1, 2026, which would return the exemption to its previous amount of $5 million as of 2017, adjusted for inflation. ...